Vic top sale: Lorne clifftop home sells for $4.2m

This towering 1970s Lorne home has sat untouched for nearly 20 years, now it’s sold for $4.2m.

A long-forgotten clifftop in Lorne has trumped Toorak and Brighton, selling for $4.2m to become Victoria’s biggest weekend auction result.

The five-bedroom, four-bathroom property at 135 Smith St had sat virtually untouched for nearly 20 years before a young Melbourne family swooped, turning the 1970s-built house into their permanent home.

Spread across three titles on an 803sq m block, the three-level residence was originally built after the sellers secured land off a heritage estate below.
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Its terraces and upper balconies capture sweeping views across Louttit Bay, offering a vantage point no longer possible under today’s planning regulations.

Barnett Real Estate Geelong director Jason Barnett, who managed the campaign for State Trustees, said inspections were limited but serious.

“We ended up with four bidders and two fought it out very hard right to the finish,” Mr Barnett said.

“The house is unique, even by Lorne standards. Neighbours say it hasn’t been touched in almost 20 years.

The original timber kitchen remains intact, offering scope for renovation while capturing leafy views.

Multiple living areas stretch across three levels, providing flexible family and guest accommodation.

“You simply couldn’t build it again today, which makes those views irreplaceable.”

The buyers from Melbourne – a couple with a baby – already owned nearby but wanted to make the coastal town their full-time base.
“It’s a proper sea change for them,” he said.

While the interiors remain in largely original condition, the block’s size and elevation made it highly contested.

An original 1970s bathroom with arched window and double vanity, ready for a stylish modern update.

The separate dining zone connects directly to arched balconies, blending indoor and outdoor entertaining.

A neighbouring home sold earlier this year for $4m after a full renovation, underlining the value placed on clifftop holdings.

Mr Barnett, a long-time panel agent for State Trustees, said his role was to drive competition under strict reserve settings.
“They set the parameters, and it’s our job to generate interest and achieve the best result,” he said.

The Barnett Real Estate Geelong director added the sale was a sign confidence had returned to the market.

A second lounge with brick fireplace and timber ceilings adds to the home’s retro charm.

Wide wraparound terraces maximise outdoor space, making the property a true clifftop sanctuary.

“Over the past three months I’ve seen buyers become active again, making decisions, and that’s what drives results like this,” he said.

The $4.2m result eclipsed million-dollar-plus auctions in Doncaster in Melbourne’s east and inner Melbourne, reinforcing Lorne’s place among Victoria’s most exclusive and tightly held coastal areas.

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